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17/06/2020

To control inflation and the growth, RBI uses certain tools like cash reserve ratio, SLR ratio, Repo rate, and Reverse repo rate, CRR, and Base rate.


Know important Real Estate Terms which affects loan rates
The equated monthly installments (EMIs) homeowners pay toward a mortgage loan are influenced by home loan interest rates; resulting in the total amount of money you pay toward your mortgage loan.

The central bank is assigned many tasks such as the extent of money in circulation, controlling the liquidity in the system, the banks’ operation, and the currency exchange ratio. Here are some implements, which the commercial or RBI banks use, and have a deep impact on your mortgage loan.

What is Repo Rate?

Repo rate is also known as the benchmark interest rate is the rate at which the RBI lends money to the banks for the short term. When there is an increase in the repo rate, borrowing money from RBI becomes more expensive. If RBI wants to make it more expensive for the banks to borrow money, it increases the repo rate likewise, if it wants to make it cheaper for banks to borrow money it decreases the repo rate. The current repo rate is 4%.

What is the Reverse Repo rate?

Reverse Repo rate is the short term borrowing rate at which RBI borrows money from banks. The Reserve bank uses this tool when it feels there is too much money floating in the banking system. An increase in the reverse repo rate means that the banks will get a higher rate of interest from RBI. Consequently, banks prefer to lend their money to RBI which is always safe instead of lending it to others (people, companies, etc.) which is always risky.

What is CRR (Cash Reserve Ratio)?

Banks in India are required to hold a certain proportion of their deposits in the form of cash. However banks do not hold these as cash with themselves, they deposit such cash with RBI, which is considered as equivalent to holding cash with them. This minimum ratio (that is the part of the total deposits to be held as cash) is stipulated by the Reserve Bank of India and is known as the CRR.

What is SLR?

Every bank is necessary to uphold at the close of business daily, a minimum proportion of their Net Demand and Time Liabilities as liquid assets in the form of cash, gold and un-encumbered approved securities. The ratio of liquid assets to demand and time liabilities is known as the Statutory Liquidity Ratio (SLR). Reserve Bank of India is authorized to increase this ratio by up to 40%. An increase in SLR also prohibits the bank’s leverage position to propel more money into the economy.

What is Base Rate?

A base rate is the lowest interest rate that a bank charges its customers. Banks decide the base rate. It is within the rights of bank management to change it. The RBI does not directly control it, though it influences it through the repo rate and other instruments. When the RBI cuts the repo rate, for instance, banks may lower the case rate.

From the above information you must have got to know the terms like cash reserve ratio, SLR ratio, Repo rate, and Reverse repo rate, CRR, and Base rate if you looking for a home loan. These are the tools used by RBI mainly to control inflation and for the economic growth.

https://youtu.be/85B9M7DKsho
25/05/2020

https://youtu.be/85B9M7DKsho

In this Video Dr Vivek Bindra talks about scam that happens in Real Estate...He Further explains that what things should be kept in mind while purchasing any...

15/05/2020

- also known as #7/12

Satbara Extract also known as 7/12 or Satbara Utara or Seven Twelve Extract or Satbara Extract is an extract from the land register maintained by the revenue department of the government of Maharashtra, India.

The extract gives information of the survey number of the land, the name of the owner of the land and its cultivator, the area of the land, the type of cultivation - whether irrigated or rain fed, the crops planted in the last cultivating season. It also records loans extended to the land owner given by government agencies, including the purpose - such as loans or subsidies for buying seeds, pesticides or fertilizers, for which the loan was given, the loans could be given to the owner or the cultivator. It is one of the documents that provides evidence of the ownership of the land it represents. In rural areas the ownership of a particular plot of land can be established on the basis of the 7/12 extract. It is called as "Record of Rights"or "Record of Land Rights". As per a news in 2009, 2.11 crore extracts in all the 358 talukas of the state of Maharashtra have been digitized. This digitization has been implemented as promoted by India's central government. In April 2012, online mutation to the extract has started in 3 centres in Pune, these mutations will record changes subsequent to transfer of ownership. This is system connetivity between the offices of the sub-register (Department of Registration and Stamps), the tehsildar (Revenue department) and the Land records department.

The name originates from Bombay Land Requisition Act 1948 (see point 7. Continuance of requisition (page4) and 12. Power to obtain information (page12)).

Why is Satbara (7/12) document required?

Satbara serves as proof of ownership/ title of agricultural land.
It can be used to check any previous conflicts associated with the property.
In case of any civil litigation, court may also require the land records' proofs.
Satbara is also a required document for sale transaction at sub-registrar's office.
This proof is also required if one wants to raise loan against this property.
Satbara also mentions classification of the land (“Bhogavatadar Varg”), if it is under any kind of classified land (i.e. forest, allotted or owned by protected or scheduled or government recognized section of the society, such as allotted to defense personnel, scheduled cast and tribes, firefighters, etc). Collector’s permission is required while dealing in Class II land. If permission is not taken, the transaction is illegal.

How to obtain copy of Satbara Extract?

State Revenue department of government i.e. Talati office of respective village maintains the Satbara records.It provides the document for a nominal fee.In case of the transfer ownership, the document is to be submitted with the name of owner on whose name the transfer is being made.

Can we view Satbara Extract Online?

Yes, visit https://www.mahabhulekh.maharashtra.gov.in/ . One needs to know the district, taluka, village name, and survey number of the land to obtain the document. However, the website is meant for reference purpose only, for legal reasons, one must obtain physical copy from respective revenue office.



Source: https://www.mahabhulekh.maharashtra.gov.in/
https://en.wikipedia.org/wiki/7/12_extract

12/05/2020

Good Evening Folks!

Hope you all doing awesome in this pandemic. My message is for everyone who has any Real Estate query, would be obliged to answer those questions. Kindly ask any 2 question which you feel is your genuine doubt.



Warm Regards
*Ashutosh*

: [The author] assumes no responsibility or liability for any errors or omissions in the content or information provided.

14/02/2020

Don’t Let Your Electricity Shock You! Simple Ways to Spot and Fix Faulty Electrical Wiring
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There are many factors to consider when you think of ways to keep your family safe. One of them is checking your electrical wiring at home. We take it for granted, but in old homes, and even some new ones, there could be wiring damage that can cause a lot of harm to your home and family. From shocks and fires, this needs to be addressed before things get out of hand.

Look for buzzing or flickering lights
If your lights flicker, buzz or dim often, it is a sign of damaged wires. This could happen as soon as you turn them on, or even at random times, or when many appliances are used at the same time. Check if it happens with all lights or just one. This can tell you if the wiring everywhere is bad or just the wiring to one light. You will need a professional to come in and upgrade the wiring.

Circuit breaker trips
Almost evetime that there is a surge in power usage, your circuit breaker will trip, you’ll notice this especially when there is a power cut and the power just comes back on. But, if this happens very often, maybe more than a few times a month, then it’s time to call for help. This could mean there is a serious problem with your internal wiring.

Look for discolouration or smoke
When you plug an appliance in and switch it on, do you notice smoke coming out of the socket? Or when you unplug a device, does it leave a discoloured mark on your switchboard? This mark and the smoke are signals that the wiring is overheating. This needs immediate attention before the heat starts a fire.

Damage to appliances
If these above signs are not present, look for other signs of damage like lights that burn out too fast, and appliances that burn out. This could mean that your circuit breaker is not performing as it should and there is a problem with the flow of electricity.

Sparks from electrical outlets
Sparking from your switchboard or electrical outlets can happen when there is water damage, a short circuit or even due to old age. In this case, you immediately need to call in an electrician and they will look for the damage or replace the old wiring.

These checks are simple, quick and don’t require much effort. Once spotted, call in professional and trained electricians who can come in and help you with your electrical problems. NoBroker will send them to your home at the scheduled time, they will find, analyse, and repair any damage, if needed they can even replace and redo wiring that has gone wrong.

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